10 Reason Why Title Insurance Is Worth The Money!

Title insurance is a form of indemnity insurance predominantly found in the United States which insures against financial loss from defects in title to real property and from the invalidity or unenforceability of mortgage loans. … There are two types of policies – owner and lender.

Title insurance protects the interest of the property owners and their lenders against legitimate or false title claims by owners or lien holders. It insures the title to the investment, unlocking its potential as a financial asset for the owner.

The title company accesses, assembles, analyzes, and distributes title information, in addition to handling escrow and closing.

Did you know that potential title problems are discovered in more than one-third of residential real estate transactions? These “defects” must be resolved prior to closing. The most common problems are existing liens, unpaid mortgages, and recording errors of names, addresses or legal descriptions.

A homeowner’s title insurance policy protects the owner for as long as he or she has an interest in the property and the premium is paid only once at closing.

Title insurance is different from other forms of insurance because it insures against events that occurred before the policy is issued, as opposed to insuring against events in the future, as health, property or life insurance do. Title insurance is loss prevention insurance.

The title company will perform a thorough search of existing records to identify all possible defects in order to resolve them prior to issuing a policy. Intensive and extensive work is performed up-front to minimize claims. The better job they do, the lower the rate of claims and the more secure is your level of protection.

Researching titles is an extremely labor-intensive since only a small percentage of public records are computerized. The industry invests a substantial amount of time and expense to collect and evaluate title records.

Some title companies impressive claim reserves give you an unquestionable security and peace of mind knowing that your policy is backed by a leader in the industry.

Dollar for dollar, title insurance is the best investment you can make to protect your interest in one of the most valuable assets you own; your home.

To get the best value, choose an agency that can provide you with the above-mentioned points. Ask us who we recommend to all of our clients.

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The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than Homes on the Sound are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2018-03-19T09:14:40.023.